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September 02 2014

Source: Richmond Bizsense

The startup with the $50M plan

A local real estate startup is seeing dollar signs as upcoming changes to federal regulations could soon make it easier for small businesses to raise capital.

Allegiancy, a spinoff of a Richmond real estate investment firm, is preparing for a $50 million capital raise beginning this fall. CEO Steve Sadler said the company will try to build an acquisition war chest by taking advantage of long-awaited Securities and Exchange Commission rule changes. The SEC is expected to smooth the process for small, private companies to pitch investors through limited public stock offerings.

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